Letters to Congress

CUNA Letter to Representative Spencer Bachus, Chairman of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, regarding regulatory relief

May 8, 2002

The Honorable Spencer Bachus
U.S. House of Representatives
2129 Rayburn House Office Building
Washington, D.C. 20515

Members of the Subcommittee on Financial Institutions and Consumer Credit

Dear Chairman Bachus and Members of the Subcommittee:

On behalf of the Credit Union National Association (CUNA) and the nation’s 82 million credit union members, thank you for the hard work you and Rep. Capito have put into drafting H.R. 3951, "The Financial Services Regulatory Relief Act of 2002." CUNA strongly supports this very important bill. And we urge you to resist any changes to weaken or eliminate any of the credit union provisions included in the bill.

We are grateful that H.R. 3951 addresses several issues that will enable credit unions to provide more efficient services to its members. I also want to commend you for your efforts in making this bill a balanced vehicle, carefully addressing the needs of all financial depository institutions.

We look forward to continuing to work with you as the bill moves toward mark-up in the full committee.

Sincerely,

Daniel A. Mica
President & CEO

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